BTCUSD (Bitcoin) - ST Bullish Impulsive Moves, Will It Continue? (4 hour chart)
|After building a ST base just shy of the LT support (5400 - 6200), Bitcoin jumped 1200$ on Thursday, closing in on the minor resistance zone between 9300 – 10000.
Whilst there might be some selling orders parked there, IMO the key resistance @ 11650-12200 is a far more attractive area to look for potential shorting opportunities.
For now I expect a ST move towards the minor resistance, and if it holds, another move down towards the LT support is to be expected. If we see a break and close above 10000 on the other hand, a continuation towards the key resistance is very likely IMO.
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